This Lie Is Holding You Back Financially, According to Rachel Cruze
Written by
Catherine Collins
Edited by
Jenna Klaverweiden
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Rachel Cruze, a bestselling author and Ramsey Solutions money expert, recently posted a YouTube video about the lie that’s holding you back financially. In it, she explained that the quest for perfectionism prevents many people from reaching their financial goals.
The team at Ramsey Solutions is known for helping people pay off debt and become financially free and generous. The core of the Ramsey Solutions method is to follow the baby steps: save an emergency fund, pay off debt from smallest to largest, build a large savings account, invest, save for your children’s college, pay off your house, and build wealth and practice generosity.
When you’re on a financial journey, sometimes things go according to plan and other times they don’t. But when they don’t, believing the lie that things have to go perfectly could hold you back. Cruze shed some light on this lie and how to overcome it.
Perfection Is a Lie
In the video, Cruze explained that we sometimes tell ourselves the lie that if something can’t be done perfectly, it isn’t even worth doing. This can be especially detrimental with finances. “Financial perfectionism is a form of money avoidance, and actually gets in the way of our success,” Aja Evans, a certified financial therapist, told Square.
Sometimes, striving for perfection can create a lot of unnecessary stress and anxiety. In fact, according to the Harvard Division of Continuing Education, perfectionism can lead to dissatisfaction, disappointment, worry, anxiety and depression.
Cruze explained that while it’s admirable to want to do things well, perfection is impossible. Because of that, the quest for perfection actually holds people back.
When paying off debt, for example, one could have a set payoff date but have to push it back because the unexpected happens. While things didn’t go perfectly in that scenario, working toward that financial goal of paying off debt is still worthwhile.
Cruze encouraged her listeners to throw perfectionism “out the window.” The real success, especially when it comes to financial goals, is the lessons and habits you learn along the way.
Embrace Failure
Another tip Cruze gave is to embrace failure, as that’s the first step toward reaching a goal. She admitted this sounds like strange advice, but that’s where a mindset change comes in.
She explained that people might not be good at something the first time. That’s okay. It’s more important to continue to work on your skills, whether it’s with money management, budgeting or investing.
It’s impossible to always get it right or accurately predict your financial future. However, what you can do is get used to regular life fluctuations, be kind to yourself and continue to pursue your goals, even if the path isn’t perfect.
In sum, Cruze said that instead of expecting perfectionism, change your mindset and accept that failure is a possibility. Acknowledge that sometimes, life doesn’t go according to plan. People may not meet their goals in the exact time frame they want, but that doesn’t mean they won’t reach them at all.
It’s far more important to be consistent and stay true to your goals rather than give up on them because of a need for perfectionism.
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